Cryptocurrency market on October 8th by cryptonew: Bitcoin price began to correct down from a high of over USD 55,000. BTC has fallen below $ 54,000. At 04:28 UTC, BTC is trading below $ 54,000 and could correct even lower.

Large altcoins show mixed results. ETH is trading above $ 3,500 and could accelerate higher if it breaks above $ 3,600. XRP failed to break the USD 1.10 resistance and corrected to the downside. ADA rose above $ 2.32 but made no further moves.

October 8th cryptocurrency market: Bitcoin price

After Bitcoin price traded above $ 55,500, a downward correction began. BTC traded below $ 54,500 and $ 54,000. It is currently moving down towards the USD 53,500 support area. The next big support is near $ 53,200 below which a larger decline is likely. If so, the price could drop to $ 52,000.

On the downside, the price is encountering resistance near $ 54,500. The first major resistance is now forming near the $ 55,000 mark, above which the price could rise again.

Cryptocurrency Market October 8th: Ethereum Price

Ethereum price is showing positive signs above the $ 3,500 pivot level. ETH even broke the $ 3,600 mark, but there was no suitable degree. If the day closes above $ 3,600, the price can rise towards $ 3,700 and $ 3,750.

On the flip side, initial support is close to the $ 3,510 and $ 3,500 support levels. The next big support is at $ 3,440, below which a drop to the $ 3,350 support is possible.

Crypto Market October 8th: ADA, LTC, DOGE and XRP prices

Cardano (ADA) accelerated above the $ 2.25 and $ 2.30 levels. It even rose to over $ 2.32, but the bulls couldn’t stay active. As a result, there has been a downward correction and the price is currently trading below $ 2.30.

Litecoin (LTC) has broken the USD 180 and USD 185 resistance levels. However, it had met strong resistance near the $ 188 level. The price is currently correcting downward and trading below $ 180. If it breaks below $ 172, it can drop to $ 165.

Dogecoin (DOGE) broke the $ 0.250 level before correcting down. The price is currently consolidating near the $ 0.240 level. If it rallies above $ 0.250 again, the bulls can test the $ 0.265 level for a short time.

XRP price attempted to break out of the $ 1.08 resistance. The price failed to break the USD 1.10 mark and is currently correcting downwards. Price could soon make another attempt to break the $ 1.10 resistance in the near future.

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